Stock Prices Belie Homebuilders' Performance

New York, NY, February 14, 2008--You'd never know the homebuilding segment is in the doldrums by looking at stock performance.

Shares the largest homebuilders have collectively risen 7 percent this year, compared to a decline of 7 percent in the S & P 500.

The S&P homebuilders exchange traded fund is up 29 percent off its early January lows, while Toll Brothers, Lennar, and Hovnanian, are up 40 percent, 52 percent and 96 percent.

Housing stocks are one of the few areas in the market that are up for the year, despite bleak forecasts for homebuilding for the rest of this year and into next year. Companies continue to take massive charges for land write-offs, and cancellations are high.